Surin hill targets investors in new project

Baan Thai Layan will be built on 25 rai of land at Layan, a popular residential and tourist area on Phuket's western coast. Units are to be purchased in phases. Surin Hill says Baan Thai Layan will offer secure rental returns and an attractive rate of return for investors.

"The Phuket property market is strong and continues to be a hot property destination for international and local property investors, holiday home-buyers, and holidaymakers" the company's deputy managing director Wanwipa Horbut said.

"We are not selling individual units," Wanwipa added. "The project will focus only on investors who are looking for a property project that will provide a healthy rental return, guaranteeing a return on investment of at least 5 per cent, or a resale premium in the future."

The new development is Surin Hill's fifth. The first construction phase, worth Bt100 million, began this week.

Wanwipa said that the first phase will be a three-story condominium of just 14 units, with a starting price of Bt75,000 per square metre.

Seven will be 100-square-metre duplex apartments and the rest will be 50-square-metre studios.

The company plans to roadshow the project in Hong Kong, Dubai and Singapore.